In this guide, we will talk about all the things a beginner in sports betting should know, including what sports betting is, where to bet on sports online, which sports betting sites are the best, how odds work and how to read sports betting lines.

Sports betting has become very popular over the years, and many states in the US have now legalized it. Every day, new customers are setting up an account at online sportsbook operators in the US and it is a new world for most of them because they have little knowledge about the sports betting industry.

What is sports betting?

The act of betting on the result of a sporting event is known as sports betting. This includes anything from rugby, cricket, basketball and baseball to football, horse racing and boxing. The essence of sports betting is that you are trying to predict the outcome of an event and win some money if your prediction is correct.

What is a sportsbook or sports betting site?

A sportsbook or sports betting site is a platform that allows people to place bets on various sporting events. Sportsbooks provide a variety of sports and events to bet on every single day.

Where to bet on sports online

Pick a sports betting site

There are numerous online sports betting sites, so it is important to choose one that is secure and trustworthy. Look for sites that are licensed by reputable gaming authorities. Each state has their own regulators. For instance, Ohio has the Ohio Casino Control Commission and New York has the New York State Gaming Commission.

Open an account

Once you have chosen a sportsbook, you need to create an account so you can deposit money into the betting account and place bets. Look for the Register or Open Account button on the website and complete the steps. This is normally a short form which asks for your details, email address and mobile number. At this stage, they will normally ask you to choose a username and password.

Deposit funds

Users can only bet if there is money in the account. Sports betting sites usually provide a wide range of deposit methods including credit/debit cards, e-wallets, bank transfers and cryptocurrencies. The beauty of depositing with cryptocurrencies is that no traditional banks are involved so you get to keep a certain amount of anonymity.

Place a bet

Once you have funds in your account, you can begin making bets. Find your chosen game or event, select the betting type and then enter the amount you would like to bet.

Which sports betting platforms are the best?

It's important to do your research first before creating an account with a sportsbook to ensure you have located a reputable one. Some of the top sportsbook operators include Sportzino, Caesars and BetMGM. A few sportsbook operators also provide fantasy games and social betting.

How do sports betting odds work?

Sports betting odds measure the probability of an outcome for a particular sporting event. Odds are typically presented in one of three formats: decimal, fractions or American.

Decimal odds

Decimal odds indicate the full amount that will be received for a win, including the original stake. For example, a customer who stakes $10 with odds of 2.50 will receive $25 if they win the bet ($10 x 2.50 = $25).

Fractional odds

The fractional odds indicate the profit a customer will make on a successful bet in relation to the bet amount. For example, a $10 wager at 3/1 odds will return $30 if the bet is won ($10 x 3 = $30) as well as the original $10 wager.

American odds

American odds or money line odds are the most prevalent in the United States. The plus symbol indicates the underdog while the minus symbol represents the favorite. This type of betting indicates that amount that needs to be wagered for every $100.

How to read sports betting lines

Sports betting lines are used to indicate the odds of a particular outcome occurring in a sporting event. Here’s how to read sports betting lines:

Moneyline

Moneyline bets are the probability of the occurrence of a certain result, and they are usually used in sports such as baseball, hockey and soccer. There is a plus sign for the underdog, and a minus sign for the favorite. For example, if a team has odds of -150, the bettor would need to wager $150 to win $100. If a team has odds of +150 then a bettor will win $150 if the bet is $100.

Point spread

Point spread betting is one of the most commonly used forms of betting in football and basketball. The spread refers to the number of points by which the favorite team is expected to win. For example, if the point spread is -5.5, then the favorite needs to win by 6 points or more for a bet on them to win.

Over/under betting

Also known as totals, over/under betting deals with whether the total number of points in a game will be over or under the number provided by the bookmaker.

These are the simplest bet lines you will see when sports betting. Some sports and events may have their own distinct betting lines and rules, so it is important that you confirm the requirements for the betting line before placing a wager.